Sharjah Islamic Bank appoints Mohammad Abdulla as new chief executive

SIB Chairman, HH Sheikh Sultan bin Mohammed bin Sultan Al Qassimi, Crown Prince of Sharjah revealed, "Mohammed Abdulla's appointment as CEO is a natural transition in SIB's growth. He has been a key and instrumental player in the bank's expansion and in transforming SIB into what it has achieved today."

Mohammed Abdulla has held the position of SIB deputy CEO as well as head of investment group and head of prime business division in his most recent role in SIB prior to this new appointment. He has also previously served as Corporate Banking Group Head and head of sales and distribution.

"As the new CEO, it is my duty to ensure that SIB remains on track with the strategies it has set. I plan to push forward with the bank's ambitious goals and strategic objectives," commented Mr. Abdulla.

During the last three years SIB witnessed tremendous growth in all areas of its business with a three fold growth in its total balance sheet and net profit during this period. Recently, the Bank has achieved many milestones as it closed a US$225 million Sukuk deal, launched its financial brokerage services subsidiary and acquired the Sharjah National Hotels Company.

The bank also lately announced the positive ratings given by Standard & Poor's Ratings Services of 'BBB' long-term and 'A-2' short-term counterparty credit ratings with a stable outlook - a positive indictment of SIB's current position.